INDIA

Farmers in India blocked roads and railway tracks on Friday in a protest against new legislation that they say could pave the way for the government to stop buying grain at guaranteed prices, leaving them at the mercy of private buyers. The government has defended the bills, recently approved by parliament, saying they will abolish antiquated laws and allow farmers to sell directly to institutional buyers and big retailers. It has also insisted that while farmers will have the option to sell to private buyers, the state would still purchase staples such as rice and wheat at guaranteed prices.

Bickering among Indian government ministries and a deferred top court decision on the sale of bankrupt telecom companies’ spectrum rights has derailed the resolution of the industry’s biggest bankruptcies, leaving banks waiting for US$5.7 billion in payments. The Supreme Court, in a case on telecom dues earlier this month, asked a lower court to first rule on the dispute between the federal telecoms ministry and stateowned banks over the legality of the sale of airwave licences of collapsed mobile operators.